Guggenheim Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target lifted by Guggenheim from $56.00 to $67.00 in a research report released on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on GH. Evercore ISI raised shares of Guardant Health to a “strong-buy” rating in a research report on Monday, July 14th. BTIG Research reissued a “buy” rating and set a $70.00 price objective on shares of Guardant Health in a research report on Monday. Wells Fargo & Company assumed coverage on shares of Guardant Health in a research report on Monday. They set an “overweight” rating and a $72.00 price objective for the company. Wolfe Research raised shares of Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Thursday. Finally, Scotiabank raised their target price on shares of Guardant Health from $57.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating and twenty-two have given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $64.75.

Guardant Health Stock Up 4.4%

Shares of GH stock opened at $60.18 on Thursday. The firm has a fifty day moving average of $55.34 and a 200-day moving average of $48.72. Guardant Health has a 12-month low of $20.14 and a 12-month high of $68.00. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of -17.96 and a beta of 1.46.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.08. The company had revenue of $232.09 million for the quarter, compared to the consensus estimate of $211.19 million. During the same period in the prior year, the company earned ($0.84) EPS. The firm’s revenue was up 31.0% on a year-over-year basis. Guardant Health has set its FY 2025 guidance at EPS. On average, equities analysts expect that Guardant Health will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 300,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $59.45, for a total value of $17,835,000.00. Following the completion of the sale, the chief executive officer owned 2,123,499 shares in the company, valued at $126,242,015.55. This trade represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Medina Manuel Hidalgo sold 2,165 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $54.16, for a total transaction of $117,256.40. Following the completion of the sale, the director owned 851 shares of the company’s stock, valued at approximately $46,090.16. This represents a 71.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 402,691 shares of company stock valued at $23,069,965. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Guardant Health

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Guardant Health by 118.6% in the second quarter. Osaic Holdings Inc. now owns 29,561 shares of the company’s stock valued at $1,538,000 after acquiring an additional 16,039 shares during the last quarter. State of Wyoming acquired a new stake in Guardant Health in the second quarter valued at $567,000. Castleark Management LLC acquired a new stake in Guardant Health in the second quarter valued at $6,326,000. Nikko Asset Management Americas Inc. lifted its stake in Guardant Health by 49.6% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,030,428 shares of the company’s stock valued at $105,623,000 after acquiring an additional 673,438 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Guardant Health by 8.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 32,485 shares of the company’s stock valued at $1,694,000 after acquiring an additional 2,421 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.